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is we have a unique opportunity to do something big. we have a chance to stabilize america's finances for a decade, for 15 years or 20 years. if we're willing to seize the moment. what that would require would be some shared sacrifice and a balanced approach that says we're going to make significant cuts in domestic spending. and i have already said i'm willing to take down domestic spending to the lowest percentage of our overall economy since dwight eisenhower. it also requires cuts in defense spending. and i've said that in addition to the $400 billion that we've already cut from defense spending we're willing to look for hundreds of billions more. it would require us taking on health care spending. and that includes looking at medicare and finding ways that we can stabilize the system so that it is available not just for this generation but for future generations. and it would require revenues. it would require, even as we're asking the person who needs a student loan or the senior citizen or, you know, people -- veterans who are trying to get by on a disability check, even as we'
temperature. and when you pile on the humidity, it's a huge difference maker. the big question people have is, when is this going to end? when can we expect some relief? the changes are going to come. we're going to see a lot of the temperatures begin to revert back to where they should be this time of year, into the 70s, the 80s, and some places in the 90s. but that's going to feel better than what you're going to get today. 99 will be your high, expected in new york today. 98 in boston. 102 in our nation's capital. 90s in chicago, back into kansas city, 100 in dallas. and the heat continues into the front range of rockies, the central rockies, and even back to the great basin. the big changes we're going to see, from the highs in the 100s and upper 90s, will come from the big dome of high pressure we've had, that's been over at least half the nation. we'll see this big ridge begin to break down. and when it breaks down, it will create a void, and then a frontal boundary will replace it. it's not going to be frigid, but it will take an edge off that heat in places like boston, chicago, and p
in it that's pretty -- it's sort of outlined but not detailed in legislation and has a big, big dollar figure around it. so, sort of the big plan. passing that along with a debt ceiling as sort of a big theory option instead of this mcconnell/reid plan, but it's so vague, as you can tell, and nothing that i have as any sort of firm plan, just, like, something that's sort of out there in the ether, they just don't have a plan at this point, no one does, john. >> it sounds like, and some people at home are saying, my god, there they go into washington speak again. i'll try to simply phi it. they are trying to fit certain pieces together to get you to several trillion in deficit reduction and that seems to be where we are, a bunch ideas. i'll go over to the wall a little bit, because jess talks about the mcconnell plan, that would give the president the authority to raise the debt ceiling and maybe they would come up with a commission with spending cuts. that's one backup plan. another backup plan is the gang of six. and i want to bring up the gang of six yesterday we talked about that. they hav
, no. now's the time to go big. get thing done for good. here he was, the president just this morning. >> i will not sign a 30 day or a 60 day or a 90-day extension. that's not an septemberabaccept approach. if it's hard now, how are the guys going to be thinking six months from now in the middle of an election season when they're all up. it's not going to get easier, it's going to get harder. we might as well do it now. pull off the band aid, eat our peas. now's the time to do it. if not now, when? >> brianna at the white house. bring us up to date. are the high stakes talks happening right this very second? >> as we understand it, brooke, these meetings continue here at the white house. president obama with top democrats and republicans in congress. you heard the tone that the president was striking there, like a parent trying to get two kids to share. he's been saying he's bending over backwards, giving up a lot and republicans are not. of course, that is his side of the story. if you were to think of him, he has a favorite child in all of this, right? the democrats. that's his par
to bring in white house correspondent, and from cnn money. go big or go home. what is the republican push back? >> reporter: we're going to be finding out very shortly because house speaker john boehner will take to the cameras at 1:30 eastern essentially in the rebuttal to the news conference from the president earlier today. but the push back for republicans has been tax increases. you have republicans who have insisted on no tax increases, and democrats that insisted if there will be spending cuts, to achieve trillions of dollars in deficit savings. they don't want to abandon -- if there are going to be cuts to programs that are huge, they want to be able to say we pushed for sacrifices from wealthy americans and corporations. they are trying to strike kind of a just right agreement. because on one hand, you have a lot of republicans, and many of them who were swept into power in the last election saying we're going to cut spending and make government smaller, so the idea of tax increases, and certainly this is something a lot of them literally pledged they will not do, randi, it would
enough to get a compromise and to get it through both houses. that remains a big question this afternoon, and -- and it doesn't seem like we've got a clear answer on really where that goes yet. >> all right. let's get out of the beltway for a second here, kate, because we've got a poll today showing 62% of americans now favor raising the debt ceiling one way or another, either with or without debt reduction. got a block of senate republicans accepting higher revenues, ie taxes, as part of tax reduction. are these holdout house republicans becoming more isolated, and are they begin to feel the heat to compromise here? >> reporter: it's hard to say. we've talked to some very conservative republicans about that, and they stand very firmly in their belief that they do not think this a tax increase should be part of any debt deal because they don't think that it's good for the economy, and they say many of them were elected in 2010 really basically on this point, that they need to get the country's fiscal house in order and not continue spending, spending, spending, that they should be reduci
this isn't the end, this is the beginning of a new chapter, but the big question remains is what does the next chapter entail? talking up live here from the kennedy space center over the next couple of hours, a special guest including bob crippen, the first of two astronauts to fly up on sts 1 back in 1981. we'll talk to him of what happened then and what he thinks of this whole 30-year era and his thoughts on what's next. also, the man who built the engine of this current rocket, of the current space shuttle "atlantis," and he has some reservations about sort of the nebulous -- the nebulous outlook for manned space flight. a lot more coming at you. just heard the rain picking up again, and if we hear anything more about that possible lightning strike near that launchpad, which is just about three miles over my shoulder, we'll bring it to you live. edie, back knew you in atlanta. >> not what they want to hear or see out there. we'll join you again in a few minutes. >>> now a scandal that's worthy of tabloid headlines itself. journalists working for "news of the world," one of the bigg
no choice but to default on some big bills, the ceo of walmart told congress today the squabbling here in washington could have a huge negative impact nationwide on an all fragile recovery. >> a default and the ripple effect i think would be impactful and representing our consumers, we think that that would be very, very difficult for the american economy to withstand at this point in time in our history. >> that's here at home. >>> then there are global worries. concerns that a default or even a close call here could rattle international markets and international economies like that domino effect back after the big wall street meltdown a few years ago. >> the united states is the largest economy in the world, one that matters, one that has spillover effects, not just around the borders, but on a complete basis, globally. >> so, the stakes, they're obvious. the path to the solution, however, not nearly as clear. >> is it today, is it tomorrow, is it friday? magic things can happen here in congress in a very short period of time under the right circumstances. >> now, by "right circumsta
and hang seng closed down. let's go to kristie lu stout. what's the big headline this morning, kristie it's all a ar w rows down. the yen soon as a safe haven continues to rise. meanwhile stocks in europe are also dae cleaning. europe is battling its own debt crisis. moody's has placed spain's government bonds on a downgrachltd government pressures and weak growth were behind that decision. ali, back to you in new york. >> kristie, we always worry when we get into a weekend and we have a deadline and we don't have a deal here that that's going to start touching asian markets more quickly than it's going to touch u.s. markets on monday. what's the reaction to the u.s. not having a deal so far? >> let's look a at the political reaction out of china, the largest foreign holder. chinese leaders, the they're not just worried. they're angry. stephen roach, of morgan stanley, he's been telling cnn that chinese leaders are appalled and that they think that america's behavior could create havoc in the global economy. meanwhile the news agency shing wa released a statement says, quote, the well bei
aren't paying as much attention to it, but it has big news over in the uk. hugh grant among a lot of people who say their phones were hacked by journalists. richard, you talked to him, what did he say? >> reporter: it's interesting, you say. the scandal is large, it's growing. the british government today said that there would be a public inquiry when the police are finished investigating. rupert murdoch, who owns the newspaper, by the way, it's this newspaper we're talking about, it's call "the news of the world," the normal rumor and gossip all dressed up with scantily clad ladies. when they started wholesale hacking of voice mail, it went into a different league. particularly, it was celebrities, it was stars, and now it's being dead murdered girl's voice mails and the patient parents of bomb victims and the like. when i talked to hugh earlier today, he said it's time to stop, it's time to say these newspapers, enough is enough. >> well, it began with just personal grievance, because i was a victim of phone hacking. and then i had this extraordinary piece of luck, where i ran i
, of being a terror attack. large explosions. a big bomb in oslo, and then a guy who steals is police uniform or creates one and then goes to the camp, and he also had mom-making materials or a bomb on the island. you begin to say this is an awful big sort of incident to have just one person. so for a lot of reasons i think people assume, based on recent history over the last ten years, of an international terrorism conspiracy. we're now hearing maybe not. this may be a right wing extremist. somebody from their midst. >> fran, this reminds me of the oklahoma city bombing. when that happened it was also so big the initial idea was this had to be a group of some sort, and i guess it was. there were two people involved. it was not a massive group nor a big effort. >> that's right. i think one, you will find this will be hard to do alone. the times square bomber, it's hard to have one guy to get the materials and put it together correctly and detonate it. it's reasonable to suspect he had some amount of help. and we are hearing from media sources the individual in custody may have been a farmer.
casey anthony, big day. she's getting out of jail on sunday. will you be doing some commentary this weekend? or are you taking this weekend off? >> i may very well, but certainly i'll be talking about it on monday morning. >> have a good weekend, whatever you might end up doing. good to see you as always. thank you so much for being here with me in the cnn news room. i of course will be with you tomorrow and sunday. >>> the president said he's willing to think small if he has to in order to break the stalemate over raising the debt limit. also new apologies from media mogul rupert murdoch. he met with the family of a murdered teenager whose phone was hacked by his now defunct tabloid. there are fast-moving developments in this scandal. it's ungulfing his entire news empire. and as casey anthony prepares to get out of jail on sunday, will she shun the media spotlight or will she try to capitalize on her supposed fame? i'm wolf blitzer. you're in "the situation room." >> president obama back at the bully pulpit for the second time this week to make sure ameripay bill. he went bef
big development. this is the first member of the key negotiators in these debt talks has come out publicly to say he is on board. this coming from senate majority leader harry reid. the top democrat in the senate. a statement we just received from his office says senator reid has signed off on the debt ceiling agreement pending caucus approval. of course, pending caucus approval means pending -- getting the same sign-off from his fellow democrats. that, of course, leads me to believe he will probably be having a caucus meeting or at least some kind of conference call with his members at some point soon to discuss this with them. but this is a major development. because as we know, we were just talking yesterday, this is the same man who came back from a meeting at the white house with the president, seeming very pessimistic about the prospects of a deal. today we heard him speak cautiously optimistic as he said. now we have for the first time one of the key negotiators publicly coming out to say that he has signed on to these -- to the debt ceiling agreement. of course, we need to
have a big stake in is apple, of course. steve jobs has done an extraordinary job there. their recent profits were just astronomical again. obviously, they're a big global company, and they've aggressively marketed in countries all over the world. do you think america's doing enough of that? do you think it's time they went back to designing, creating, and building things they can sell to the world exactly as apple is doing so successfully? >> well, clearly, apple is a role model of the american innovation whereby it produced all these products -- ipod, iphone, ipad -- that is really now dominating all the technology arena in the world. clearly, apple is a role model, and i believe the united states, with all its problems, is down but for sure is not out. i hope that an awakening happens in the united states whereby to go back to the roots of the main success of america, which is innovation and encouraging more ideas and more thoughts to be integrated in the u.s. system. >> are you concerned at all about the succession plans at apple given the ongoing situation involving steve jobs' h
's take a look at the big drop on wall street today. the dow closing down 198 points. about 1.5%. the nasdaq slipped 2.6%. the s&p 2%. another drop on wall street. mounting debt crisis could end up lowering the country's signature credit rating for the first time in decades. ahead, we'll lay out the severe consequences of such a move and why some say politicians here in washington are right now playing with fire. and not everyone thinks the country is approaching armageddon. why some lawmakers in congress are taking a hard line on raising the debt ceiling. stay with us. a vacation on a budget with expedia. make it work. booking a flight by itself is an uh-oh. see if we can "stitch" together a better deal. that's a hint, antoine. ooh! see what anandra did? booking your flight and hotel at the same time gets you prices hotels and airlines won't let expedia show separately. book it. major wow factor! where you book matters. expedia. ♪ you are my sunshine ♪ my only sunshine ♪ you makes me happy ♪ when skies are grey ♪ you'll never know, dear ♪ how much i love you ♪ p
. it unfortunately happened in this situation, in this place, we're never hoping for a big, destructive system, but when there's the possibility of it bringing some heavy rainfall to places that desperately need it, you want it to happen. in this case, it did not. however, there is the possibility that we may see some development of a different system out in the atlantic. we're going to watch it. it's still days away from affecting anyone at all, and it may not happen at all, but we're still going to watch it for you very carefully. another thing we're watching that is dangerous potentially is the heat. the heat is still relentless across parts of the central plains and back in the midwest. also the northern half of the map, western great lakes, upper midwest, there is going to be a chance that we have some severe storms developing later in the day. severe thunderstorms, deadly lightning a possibility, large hail, maybe even some tornadoes late in the afternoon hours, perhaps even into the early evening. but heat is going to be the major thing that's going to be dangerous for people today. dal
boehner balks as a big deal, but tonight's white house meeting is still on. today, the debt deal in peril with republican whip kevin mccarthy and democratic leader chris van hollen. then the economy in 2012 with rick santorum. >> we have a president who's in denial. >> and after the space shuttle with nasa administrator charles bolden. i'm candy crowley, and this is "state of the union." hope for a grand debt deal got buried last night in a blizzard of status quo rhetoric. speaker boehner writing -- out of the white house, communications director dan pfeiffer responded -- joining me now to try to make sense of where things stand, house republican whip, kevin mccarthy of california. if i am out there listening to all of this, i want to strangle all of you. why can you not get this deal? this looks to me like a strategic bargaining ploy rather than where we're actually going to end up from speaker boehner. >> i don't see that at all. boehn boehner's been very clear there are no votes for a tax increase. you look at the jobs data, only 18,000 jobs. canada has fewer people that live in califo
. >> thank you. >>> speaking boehner balks as a big deal, but tonight's white house meeting is still on. today, the debt deal in pairil. and then the economy in 2012 with presidential candidate, rick santorum. >>> i am candy crowley, and this is "state of the union." hoped for a grand debt deal got buried last night in a blizzard of status quo rhetoric. the white house will not pursue a bigger debt reduction agreement without tax hikes. i think the best approach may be in producing a smaller measure. and dan pfeiffer responded, we cannot ask the middle class and seniors to bear all the costs and budget cuts. >>> joining me now, house republican whip, kevin mccarthy of california. if i am out there listening to all of this, i want to stan gul awful you. why can you not get this deal? it looks like a bargaining ploy? >> i don't think so. you would not increase taxes on the small business, which is what the president wants to do. you had an negotiation with cantor and kyl and biden. so what he's saying, let's go there, there's no taxes, and there are cuts right there, but why don't you als
feeling. >> i can't wait to see you in new york. start that race together and give you a big hug at the finish line. >> sounds good. can't wait to see you. >> if you want to follow along with me or any members of the six-pack, logon to cnn.com/sanjay. thanks for being with us this morning. time now to get you back into the cnn newsroom for a check of our big stories. >>> this from the cnn center in atlanta, georgia, this is your saturday morning, k a.m. eastern time and i'm t.j. holmes. two developing stories. first the president summoning congressional leaders back to the white house for a saturday morning conference. this comes the day after the house speaker, john boehner walked out on debt talks. the president calling them right back. >>> also the developing story out of norway where at least 91 people have been killed in two separate attacks in norway. police there say these two attacks are, in fact, linked. still a developing story. we'll have the very latest for you live in just a moment. we need to begin in washington, d.c. with that looming deadline on the nation's debt.
heated yesterday between obama and eric cantor. while they bicker, the big three credit rating agencies are warning the aaa bond status could be at risk. the debt ceiling deadline, as you may know, is august 2nd, but the president set tomorrow for the deadline to see if a grand bargain is possible, if not a bare bones bargain. if not, payments to critters, bill payments, you name it, there is not enough income to cover all that. every month we come up $125 billion short. if we cannot borrow to bridge the cap, 40% of the monthly obligations could not be paid, and that could include social security checks due to go out on august 3rd. the stakes we just laid out are monumental, so both sides have to give ground and risk their jobs for the good of the country. what is so hard about that, right? joining me with their insights on conflict resolution are cnn contributor, pete dominic, and family law attorney, mrs. winestein. what does it take for two entrenched parties to agree on a deal that both need? >> well, you know, the obvious is that you take the emotion out of the room and you try to
find out about them. if you want to nominate someone you know who's making a big difference in your community or another community >>> tonight, washington in turmoil. >> we cannot borrow more money. we have to balance our budget. >> we're running out of time. it's time we get serious about finding a compromise. >> americans outraged. >> they can't seem to get it together and compromise. >> we have adults who have been elected to office, and yet they play worse than 3-year-olds. >> i'd fire them all. >> what would it take to get a deal done? i'll ask the white house and the republicans. plus, what this crisis is already costing you. and adam levine, rock star, maroon 5 front man. he's sold more than 15 million albums. he's conquered tv on his first season of "the voice." >> christina takes things to a whole new level, right? you can level with me. >> i can't on national television. >> but tonight his biggest challenge yet. i'm getting him to do something you've never, i mean never seen him do before. >> this is so dumb. i don't know why i can do it. >> that is incredible. >> the amaz
's right. you know, the big point of contention yesterday was with house majority leader eric cantor pushing for this short-term deal or a series of short-term deals. the president, according to democratic sources familiar with the talks, made it clear that that is something he does not support and something he would veto. the president has, for the last few days, and certainly weeks as well, been pushing for the biggest deal possible where it it seemed to get some support. of late, it has not. the president believing if you start talking about the short-term deals, you run into the political season where you negotiate the things all over again. if you can't get this done now, how will you get this done in the thick of the political season? tense discussions yesterday. the president agitated and believing that republicans are using the debt talks to make political points. the president making the point, according to those inside the meeting, that this kind of atmosphere just confirms some of the worst fears that americans have about the way washington works. >> well, yeah. the way wa
was always striving for a big deal. from the speaker's perspective, the white house at the last minute from their view moved the goal posts. they -- what it sounds like, not only comes to some agreement on a framework, but they were talking real details on some of these proposals, having to do with cuts and spending cuts and medicare and enconstitutitlemen all that. after this agreement that they have come to -- it had reached, they say the white house moved the goal posts. and in their view, speaker bane her to step back, take stock of the situation and really look at the calendar very seriously. as he said had, to do something because the white house's vision was not in line with that of congress. and that's why speaker boehner has now made this very aggressive move saying he's now just working with congress on this. >> jessica, we're running very tight on time tonight. i want to get through a lot fast. is there a sense when you look at the numbers that both sides talk about, even if you take their conflicting versions of what happened, i had the sense they were both talking about really
cloud over this economy at this vital time. >> how big a problem is the split in the republican party? and the reason i ask you that is that senator mccain has come out very strongly and angrily today lambasting those on the tea party side of the gop saying that their demands of balancing the budget and so on are completely fanciful. he calls them hobbits. clearly there's a split there amongst some republicans, but is that helpful or a hindrance to trying to get a deal here? >> look, i think the leaders have set terms that i think allow for a type of compromise. the thing the president's been talking most about, which is the importance of making sure that we do not keep the specter of default hanging over our economy narks tha we have a debt limit that's extended into 2013 so we provide some stoernt investors and job creators in our economy, that's something that virtually all of the democratic and republican leadership has called for during most of these negotiations. almost everybody wants some form of a down payment on deficit reduction. almost everybody believes we need to come ba
&p said they need to do to keep the credit rating at triple-a. >> how big of a concern is that? even with the plans the credit rating might still be downgraded? >> it's a very big risk, anderson. there's two different events here and it's hard to keep them separated from each other. the first is getting the debt sealing lifted. that's the critical negotiation under way now. even if we get it lifted, eric's right. standard & poor's is saying even if you get it lifted it's how much you're willing to cut the deficits that they will really judge the triple-a rating of the united states on and if it's something less than $3 to $4 trillion in real cuts they're going to lower the credit rating of the united states for the first time in our history. we've had it since 1917 we've been triple-a. there's a growing sense at top levels here in washington that the chances of a credit rating downgrade is becoming more than just a possibility but moving towards a probability. >> april, for those who haven't been following this as closely as everybody in washington and a lot of other folks have been
opposition to this big, but there, i predict, will be no democrat for this bill so because bipartisanship was not sought. i'm a diely concerned it would pus us right back on the praecipe of imminent default in just a few months, casting a pall of uncertainty. and leading to a job-destroying credit downgrade. >> i urge my colleagues in the name of sanity and in the name of ensuring in a we pass this measure and we send it to our colleagues in the united states senate. >> here areas a quick reality check if this bill passes the house, it's going to hit a big roadblock in the senate. senate democratic caucus, every member of that caucus has signed onto a letter say they will oppose the bill, and senate majority leader harry reid announced today they will quickly take up the bill in the senate this evening, but only to table the measure, a vote to table the measure effectively just setting it aside. that doesn't mean think couldn't take it back up if they wanted to, but it's a quick way legislative for democrats to show there is not enough support for this big to pass the senate. it brings us
higher. the ftse and the dax are both down. sony is reporting big losses. let's go to kyung lah, live in tokyo. good morning, kyung. >> reporter: good morning, ali. it's not just sony but it is a bad day in a lot of boardrooms and many of the electronics companies here in japan. we saw a lot of reporting of the quarter from april to june. sony posted a loss of 191 million u.s. dollars. panasonic, down 390 million. sharp down 630 million and nintendo says they lost in that quarter 327 million u.s. dollars. why? well, partially because of the march 11th earthquake. they are still trying to recover from the poor sales and the supply problems. the other theme we keep seeing over and over again from these electronics companies is the currency problem. the u.s. dollar is sinking. sinking very rapidly in these last six weeks. u.s. manufacturers, just like japanese manufacturers all operate on the u.s. dollar. and so when japanese manufacturers then have to repatriate these funds here, they lose if the dollar is sinking and the yen is rising. what is pushing the dollar down is all of that u.s
days. 106 expected high temperature in the big "d." it will be 92 in kansas city and 80 in new york. that's cooler. 86 with storms in atlanta. some researchers out of the u.k. ali, want to share this story with you, you're a big movie buff and science guy at the same time, researchers out of the u.k. are calling for regulations to curb the integration of human genes basically with animal genes. they don't want to create a human animal, hybrid. who wants that? i can't help but think this has something to do with the release of the "planet of the apes" movie coming up in the beginning of august. called something like "rise of the apes." a popular show when i was a kid and i might see the movie in a couple weeks. >> do you know if we're anywhere down the road close to cloning human/animal cloning? >> we don't need a half man/half horse running around the office. we do use the genes for beneficial scientific uses to try to discover some cures of the diseases. >> it's always the fear someone will use it for the wrong thing. rob, good to see you. check in with you later on. rob marciano i
to engage in serious negotiations. >> so, now what is the big question? speaker boehner will rebut the president just about 14 minutes from now. we'll take you there live. in his letter to his colleagues, he said his preference now is to work on a plan in the congress. but the president expects the house and the senate leaders of both parties at the white house saturday morning. is this just theater before a deal or a recipe for gridlock and maybe an economy shattering government default? chief white house correspondent jessi jessica yellin, and kate bolduan, and gloria borger here, jess, the speaker doesn't want to negotiate anymore, and this is not a president known for his anger or his temper, but he seemed pretty piqued. >> reporter: this was the president hitting by far his most frustrated, fed-up note during the debt negotiations by far, john. we heard him say that the republicans just don't know how to say yes. that he offered the most generous package he could. in short he said that he offered them a deal that democrats just didn't like. he was basically saying he was enrag
'll keep a close eye on baby jamichael, a big kid. that's it for me on "wake-up call." "american morning" begins right now. >> good morning to you. i'm kiran chetry. a lot going on. let's get you caught up. the end of the line for the "news of the world." the british tabloid shutting down after sunday's edition after new reports that the paper reportedly tried to hack the phones of 9/11 victims. >>> a deal to raise america's debt ceiling still out of reach. talks continue today with the president warning we have ten days left to get an agreement or risk default on this "american morning." >>> and good monday morning to you. start of another week here on "american morning." it is july 11th. nice to see you back. >> great to see you. >> the shuttle went off on the first try. >> i couldn't believe it. we were all thinking the weather was horrible but it went off. can't get the three of us together a whole lot. christine is off. >> summer vacation. >> no deal on raising the debt ceiling. last night talks at the white house fizzled out. president obama making it clear with 23 days to go befor
. the big question today is, will they be looking at that medium-sized deal and will they have enough details to get something done? there is not a lot of certainty that they can cut that big deal. the president has said he cannot cut a short-term deal. they have to have a deal. there is a lot of uncertainty right now. it is all very unstable, very much up in the air. everybody is playing for their negotiating position right now. the president is using the leverage he has to keep up as much pressure as he can. >> jessica, i am sure you will be answering that question from that. >> john king is here. it is interesting. the president is going to be in the briefing room. he is out of the east room where there would be a dramatic announcement. this is just sort of a surprise in the middle of these tough negotiations. he has decided to go public to try to put pressure on us. >> i am not surprised. i find it interesting that before they go pack back to mee 2:00 in the afternoon, he is coming out of here to talk about the state of play. the president can go directly to the american people an
. one of the things that they're considering is blocking this big deal, takeover bid by rupert murdoch of british sky here. people don't want to see that deal go through, kyra. >> we'll continue to follow that story. i have a feeling a lot more is going to break, it's just starting to unfold. zain, thanks. >>> trying to broker a deal. in less than two hours from now, he will turn to the public with a news conference. dei dan lothian joins us from the white house. >> reporter: medicare and social security they don't want touched by this deal and on the other side, republicans are saying no tax hikes at all. you're seeing the president using his bully pulpit, if you will, for the second time now in as many weeks, the president holding a press conference, a chance to try to get both sides to sit down and hammer out an agreement and spell out what the consequences will be if that debt ceiling isn't raised by august 2nd. the president, aides tell me, will continue to push for what's being called that bigger deal, up to $4 trillion in spending cuts and also tax hikes. the reason for that is
the next big question when casey is released where she's going to go. did mason give any hint about that? >> he said plans were being made. he would not tell me what they were. but he is concerned for her safety. they all are. they do realize the public opinion in this nation deems casey anthony maybe one of the most hated women in america right now. so they are taking security precautions for her safety. >> i want to play some of what he said about their fears for her safety. let's listen. >> sure. yeah. everybody around her knows we have to be concerned for her safety. there's a lot of nuts out there that don't believe in the constitution of the united states, don't believe in the jury system. all you have to do is go downstairs on the sidewalk and you'll see. >> he wouldn't say, though, what precautions they're taking to ensure her safety, right? >> no. he wouldn't even tell me where she's going to go. he does not think she can live in orlando, florida or even the state of florida, and wonders where in the united she can become anonymous and just sort of blend into the society. he had
, carmageddon is what they're calling it. now, it might not sound like a big deal to you that a freeway is shut down, but this is not just any freeway. we will take you there for what is sure to be an interesting weekend in l.a. >>> also, an ipad 2 for $69. sears was offering that deal yesterday. today, they're offering an apology. the big mistake that had people thinking they had gotten the bargain of the year. >>> but let's now turn to the 405 freeway. the infamous 405 in los angeles. it is shut down this weekend. and you might be thinking, if you're not familiar with the area, big deal, freeway's shut down for construction. but think, folks, what if you are in new york and they shut down the brooklyn queens expressway? what if you're in chicago and they shut down the dan ryan? what if you're in atlanta, they shut down 75/85. you're in the bay area and they shut down highway 80 over the bay bridge? that's what we're talking about. this is how important 405 is. 500,000 drivers go on to the 405 every single weekend, but this weekend,s is not an option. the construction work is supposed to be do
of some instruments that could -- showing, you know, trouble in the lending market. >> the big question is, will washington let that happen, and right now that answer is not any clearer than it was yesterday morning. we begin with breaking news, though. this titanic struggle that's continued to go on right now to end the debt crisis before next tuesday's deadline. here's a live look at the capitol where overnight, infighting among republicans forced house speaker john boehner to yank his debt bill. they thought there was going to be a vote last night. there is hope he will try to pass it again today. in four hours the speaker will again sit down with fellow republicans and again try to entice just a handful of hardline conservatives to fall in line. >> the bill's not perfect. i never said it was perfect. nobody in my caucus believes it's perfect. but what this bill reflects is a sincere, honest effort to end this crisis in a bipartisan way to send it to the senate where it can receive action. >> now the speaker's bill would cut $900 billion from the budget over ten years in exchange for a
down. >> to emphasize why this matter, this is as big a crisis in britain in a generation plus. it's the police, political establishment, media establishment and the most important media person in the u.s. which is rupert murdoch. not to cover this would be journalistic malfeasance. >> you have the democratic senatorial campaign putting out a statement. you wouldn't see that liberals who don't like rupert murdoch are just milking this for all it's worth? >> if this had no connection whatsoever to the nature of the operations, especially through fox news, you might say they're reaching. since the basic accusation that michael wolf was saying, that murdoch is using his media power for political ends is similar in the u.s. and the u.s. it's natural the democrats would say this. >> on your media blog at "the washington post" you took on a story about the difference between british and american journalism. you say basically we should come out and say british journalism standards are sleazy and destructive. you think we're dancing around this? >> in this particular iteration, i couldn't
a moment ago, l.a. is gearing up for gridlock. you might be thinking, well, what's the big deal? it's l.a. they are used to gridlock on their highways. but this is different. they are calling it carmageddon, and it's set to begin soon. but first, let me give you a update on where we are with the debt negotiations going on in washington, d.c. at 4:15, that's a little more this an hour from now, the talks are set to resume right there at the white house. now, it was this time yesterday we told you that these talks were getting a bit testy. the two sides, why not be getting testy, are under pressure of an august 2nd deadline to get a deal to raise the debt ceiling or risk a u.s. government default on its bills. well, last evening we are told things became even more testy, extremely heated. we'll get to more on that in just a moment, but first an extremely urgent call within the past half hour from the treasury secretary himself. take a listen. >> the eyes of the country are on us, and the eyes of the world are on us, and we need to make sure we stand together and send a definitive signal t
that and in exchange for some minor tweaking of medicare, but nothing that really gives the republicans too big a win on that issue. and they would also argue, to gloria's point earlier, that you actually need this. this is not just a win for democrats, you need it because you need democratic votes to get this through because you're going to lose so many republicans who simply won't vote to extend the debt ceiling under any circumstances. so that's the calculus if you went with the middle deal, there would be an entirely different math for a tax reform package if you went with that larger deal that's more in the $4 trillion range. >> the irony here to me is that a larger deal would in many ways be easier to cut because it's so obvious what you would have to do. if you do a smaller deal, then you have to have eric cantor lay out by piece by piece by piece, cut by cut, by cut, what he would do if you don't have the revenue side of it. >> but to get the bigger deal, you need trust that they would actually then do comprehensive tax reform, rewrite the code so the republicans would make the case we didn't
reform. it is quite a big undertaking considering there isn't a lot of time left but certainly some movement that we have seen since yesterday, guy. >> any specifics? i think important people who are listening to the process of what's happening in washington, what this means for people over a longer period of time is fewer services and smaller government and maybe higher taxes or higher cost of living your life as the services go away. i mean, all of these have amazing and long lasting ramifications for how we live our lives. my specifics? >> huge long -- no. honestly in terms of the specific, i mean, we can talk generally about where the cuts would come from, entitlements, defense spending, you can see how that would affect different people and the nation as a whole. specifics, no, i think we are going to be getting, obviously, more details on that to come. let's just take a look at some of the things that some of the folks who are coming here to the white house are going to demand because, remember, president obama is hosting eight members of congress, top two democrats and top tw
, indeed. they raised the stakes earlier on, making a big deal saying he no longer wanted to work with the white house, and yet we're hearing he's going to be at the white house tomorrow morning for more meatings. how is the white house iraqing to this? >> there's a lot of talk about the fact the president has put in repeated calls to speak eer boehner as the president tells it, in order to get a response. the white house made an outreach, an overture of the outline, and the president called speaker boehner's office first, and was told that speaker boehner wasn't available to talk to the president. this is not your stand protocol in president. you make yourself available to talk to the president or shortly thereafter. there is frustration about that expressed here, but there is still an openness and a willi willingness on both sides to negotiate because everybody wants to get the debt ceiling raised, and here, also, they say maybe this obama/boehner framework could be the deal in the end, so it's still not off the table from this perspective. >> you say there's a willingness on bo
to the men and women watching us on the armed forces network. a big thank you to you as well. >>> we're just hours before tonight's debt reduction talks at the white house. live pictures there this morning. the ambitious hopes for a large-scale deal have been dashed. the apparent sticking point? taxes, here is how house speaker, john boehner, sees it as democrat and republican leader prepare for tonight's showdown. quote, despite good-faith efforts to find common ground, the white house will not pursue debt reductions without tax hikes. i believe the best approach may be to focus on producing smaller cuts, that still meets our call for spending reforms and cuts greater than the amount of the debt limit increase. the white house talking about expectations at those talks. here's what spokesman dan fiver had to say about it. he said we cannot ask the middle class and seniors to bear all the burden of higher costs and budget cuts. we need a balanced approach, he says that asks the very wealthiest and special interests to pay their fair share as well and we believe the american people agree. cnn
out of room to cut. you will remember the big spending bill earlier this year cut tens of billions of dollars. so if you take a step back and you look at the entire forest there's a lot of spending cuts going on. lot of real spending cuts democrats are arguing that they are going to hurt a lot of people. so those certainly are accounting tricks. in terms of that last little margin to get to the point where they are cutting more than they are raising the debt ceiling which is what republican leaders wanted to do, they needed to rely on some creative use of cbo accounting methods. >> right. this is also interesting, though. even if he does get john boehner, that is, the house, even if he does get the conservatives to fall in lynn and go ahead and vote for this, there seems to be question about whether it will get out of the senate. have you 53 senators, two independents, included who said they are not going to support boehner's proposal. now we are looking at another proposal perhaps harry reid's proposal which the cbo also downgraded. let's take a look at the numbers. instead of $2.
reporter dovetails neatly with our big question tonight. keeping them honest, if a strong majority of americans is telling washington they want a deal on the debt crisis, they want these guys to compromise with the other side, they want a mix of spending cuts and tax increases. then why isn't washington getting the mage? we've got new polling that says all of that. and this is important. recent polling may also explain why we haven't got an deal yet. we'll tell you what we're talking about. in any case, americans are speaking out today. >> good morning, speaker boehner's office. how may i help you? >> a summer avalanche of phone calls hitting the capitol. president obama asked for it in his address to the nation last night. here it is. house switchboard today getting nearly double the volume of normal phone calls, house speaker baine er's office reporting as many as 300 people on hold for as long as an hour. online the same story. site unavailable. server busy. we found better than one in three congressional web sites either slow or down entirely from all the volume. also multiple
of washington's impact. but mining stocks with big drags here. we have rio tinto. financials fell. >> you know, ramy, we've been so preoccupied by what's happened in washington that sometimes it's easy to lose sight of the fact we are in the midst of earnings seasons. we've had reports across the region. >> nintendo, they slashed their full year's forecast earnings by a whopping 82%. that's because gamers aren't so interested in their handheld 3-d game players which came out five months ago. that would be the 3-ds. that's the biggest fall in the past two decades. you're looking at a year to date. nintendo share prices dropped a whopping 47%. it's a similar story, not so bad for sony. they cut its profit estimate for the year by about 25%. this was yesterday. that's because of weak demand for tvs like this bravia over in the u.s. and europe. sony's share price year to date has also dropped by about 35%. but, you know, it's not all doom and gloom. they say its net income surged to about $1.31 billion. this is for the six months to may. forecasters had been -- forecast had been for earnings for a
is going to stick around. >>> and for anyone who's wanting to know what's the next big thing in popular culture? we'll bring you the most exciting event of the year. every patient's past. and because the whole hospital's working together, there's a family who can breathe easy, right now. somewhere in america, we've already answered some of the nation's toughest healthcare questions. and the over 60,000 people of siemens are ready to do it again. siemens. answers. personal pricing now on brakes. tell us what you want to pay. we do our best to make that work. deal! my money. my choice. my meineke. >>> goats are now roaming and grazing in idaho, the city hired the goats to eat noxious weeds in a 680-acre reserves. the weeds choke out the native plants if left alone. the goats are expected to kbraz for about a week. >>> all right, well it's a good thing they have those weeds because in many other parts of the country, there's drought and though everything, all kinds of vegetation, crops, et cetera, are dying. >> it is actually the extremely serious situation especially across the state of t
. jeter getting his 3,000th hit yesterday. >> that was a big day for him and the yankees as a whole. yankees shortstop, derek jeter, reached the historic milestone on saturday. and ray d'alessio is joining me. it's a huge day for derek jeter. >> yankee's fans, they love this guy. what does he do? he goes out and gets his 3,000th hit. he hit it by hitting a home run. one of the nicest guys that as a member of the media that you can interview. and even bigger than him getting his 3,000th hit, and you are from jersey, and you now how rich the yankees players are. joe dimaggio, and none of them never reached the 3,000 hits, and derek jeter the first to do so. you have the young fan, and the fan who catches the ball -- >> he didn't have to give it back, did he? >> no, he could have sold this ball, and there was talk this ball could have gone for thousands. a life-long yankee fan. what does he say? jeter worked his rear end off. he got to meet jeter, and the yankees went ahead and gave him tickets to the championship suite for the remainder of the season, and he made out. >> ice cream, ho
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